New to crypto? Is the idea of investing or trading in Bitcoin or any other cryptocurrencies a daunting prospect? Well, don’t be intimated, we will explore the safest and most secure ways for you to begin your crypto journey.
The evolution and rapid development of the cryptocurrency industry has led to the creation of numerous cryptocurrency exchanges, which can be accessed through mobile apps or websites. The abundance of cryptocurrency exchanges can leave crypto users lost.
One way is to use an independent review site like cryptowisser, making the whole process of finding the right cryptocurrency a whole lot easier. However, if you want to cut to the chase and know more about the most popular and widely operated exchanges around, stick with us.
What’s important for those looking to get into crypto trading is that the majority of the most popular exchanges offer a similar package, with certain unique aspects that separate one from another. We will explore three of the most well-recognised exchanges around. Let’s take a look.
Binance
Probably one of the most well-established exchanges, the Binance app offers users a unique trading platform based in Malta. It is a great option for beginners, as it features a “Lite” version, allowing new users to navigate the various currencies, making trades and depositing fiat currencies for crypto with ease.
Equally, if customers want to deactivate the “Lite” version, they will have full access to detailed statistical data and live tracking of market movements. The platform features over 200 coins, ranging from major players like Bitcoin to the Binance native coin Binance Coin (BNB).
Binance offers a range of services, including margin trading, futures reading, and minimal fee charges for large trades. As well as that, users have a credit card allowing customers to purchase and sell cryptocurrencies. The Platform is widely recognised and used by traders around the world, so you won’t need to worry about security.
Coinbase
Coinbase is arguably the number one platform for Bitcoin trades, which accounts for a large part of crypto trading. A real favorite among beginners and allows for simple trading of digital currencies and the ability to quickly and easily withdraw funds, including Bitcoin and Ethereum.
Coinbase features a great interface, which can be adapted to suit the beginner or experienced trader. The platform accepts debit cards, wire transfers, and credit cards, making it easy to get started. The fees for trading are a little higher than what you get at Binance, but the sheer volume of trades being carried out by the 30 million active users explains the charge.
There are numerous coins available, with major coins like Litecoin, Bitcoin Cash, and Ethereum as the most popular. Coinbase also offers “Coinbase Pro”, which comes in the form of a separate app and is designed for expert crypto traders.
Kraken
Finally we take a look at Kraken, which has been around for a decade, first created in 2011. Kraken prides itself on the ability for customers to move funds in and out of their accounts, with incredibly low fees. The fees vary between 0 and 0.36%, which is dependent on the volume of trading the user has carried out recently.
Kraken is also lauded within the community for its customer service. The platform is available worldwide, yet they manage to provide a great service to customers, dealing with a variety of languages and maintaining their great reputation.
They differ from a platform like Binance, as they don’t have the full range of altcoins you’d find there. The UI isn’t as strong as the aforementioned exchanges, but it still provides a user-friendly experience and allows for seamless trading.
Ultimately, any of the platforms will work well for new traders. There are slight differences which we’ve highlighted. But, if you’re looking to take your first steps into crypto, any of these would be a great option.